Overview
- Essential shareholders will receive 0.305 American Water shares per share, leaving American Water holders with about 69% ownership and Essential holders with roughly 31% of the combined company.
- The merged utility will manage approximately 4.7 million water and wastewater connections across 17 states and 18 U.S. military installations under the American Water name.
- John C. Griffith will lead as president and CEO, with Essential’s Christopher H. Franklin becoming executive vice chair, and the headquarters will remain in Camden, New Jersey.
- Management expects first-year EPS accretion and reaffirms a 7%–9% long-term EPS growth outlook, while stating no merger-related changes to customer rates or union contracts.
- Closing is targeted by the end of the first quarter of 2027 pending shareholder and multi-jurisdictional regulatory approvals, with a post-close review of non-water assets including a potential sale of Peoples Natural Gas.